Daily Price Analysis 10/08: Bitcoin, Ethereum, Ripple, EOS, Litecoin

The cryptocurrency market had momentarily halted its recent losses and gained roughly $4 billion over the past 24 hours.

The total cryptocurrency market cap yesterday was around $223 billion but has surged a bit to its current level of $227 billion.

The 24-hour trading volume, on the other hand, continued to decline. It stands at $12 billion, which is low compared to the $14 billion recorded yesterday.

There has been no significant news that would lead to the market recording gains, thus the rise in market cap could be bulls trying to establish strong support.

Bitcoin price analysis

The Bitcoin price has been trading sideways over the past 24 hours. At this time yesterday, BTC was trading just above the $6,500 region.

It dipped a bit and is currently trading $6,458, which means that the price didn’t make any significant increase or decrease.

There is an expectation that the BTC price would attempt the $6,600 level soon.

Bitcoin’s 24-hour trading volume was also stagnant as it still stands above the $4 billion mark. Over the past seven days, BTC has lost 12% of its value.

It was trading around $7,400 mark a week earlier but has dropped to its current level of $6,458.

Ethereum price analysis

Just like Bitcoin, ETH price has been trading sideways over the past 24 hours. It was trading at $361 yesterday but has gained just $1 and currently trades at $362.

The trading volume meanwhile has dropped by roughly $200 million. The volume was $1.8 billion yesterday but has slipped to its current level of $1.6 billion.

On its weekly chart, ETH has lost 11.5% of its value during that time frame. It was trading at a weekly high of $409 but has lost ground and is now currently trading at $362.

Ripple price analysis

Ripple’s XRP lost 1% of its value over the past 24 hours, as it trades at $0.337 compared to the $0.342 yesterday. The 24-hour trading volume dropped significantly from $347 million yesterday to $267 million.

Over the past seven days, XRP has shed 23% of its value. It was trading at $409 a week ago but is now trading at $362 per coin.

EOS price analysis

With no significant EOS news over the past 24 hours, the EOS price has dropped by roughly 1% over the past 24 hours.

It was trading at $5.66 yesterday but it has dropped to $5.33. The 24-hour trading volume has also dropped alongside the price, standing at $760 million compared to $781 million recorded yesterday.

Over the past one week, EOS has dropped 25%. A week ago, it was trading at $7.12 but has been declining to stand at its current $5.33

Litecoin price analysis

Just like EOS above, Litecoin has been trading sideways over the past 24 hours. It was trading at $62.72 this time yesterday but has dropped to $61.36.

The daily trading volume has dropped by over $50 million over the past 24 hours. LTC trading volume was at $299 million this time yesterday but dipped to $245 million.

LTC price has lost 18% of its value over the past seven days. The cryptocurrency which is currently trading at $61 was priced at $75 a week ago.